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Accounting and finance employment is projected to grow 4% from 2022 to 2032, with about 126,500 openings for accountants and auditors each year on average. 1 But attracting and retaining talent is proving difficult for several accounting recruiters and accounting talent acquisition specialists. Many of these openings are expected to result from the need to replace talented employees who have either switched occupations or exited the labor force (e.g., retirement).
The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise their small business clients need to stay ahead of the curve.
By Gail Cole. Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? What products are included in tax-free weekends?
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
By Gail Cole. Hawaii has some of the highest median home prices and rents in the country — and a persistent housing crisis. Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? Governor Josh Green thinks so. Governor Green has vowed to sign into law any bill that would transform STRs and vacant investment properties owned by nonresidents into housing for locals.
The Securities and Exchange Commission charged the fast-rising auditing firm with deliberate, systemic failures to comply with PCAOB standards for audits and reviews.
May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.
May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.
Internal audit hiring manager are looking for recent college grads who have learned about accounting and auditing, but also technology like data analytics.
Sen. Ron Wyden, in a letter, demanded that TurboTax refund customers who, due to a software glitch, were inappropriately encouraged to take non-optimal choices, resulting in higher taxes.
Expanding business operations globally allows companies access to new markets, more efficient manufacturing options, new technologies, a larger workforce and new sources of inventory. At the same time, global expansion increases the level and complexity of taxation. Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Wolters Kluwer Tax & Accounting (TAA), a global leader in professional information, software solutions, and services, today announced plans to deliver new AI-enabled capabilities to tax and accounting professionals, as part of its innovation strategy centered on firm intelligence. TAA’s leveraging of advanced, proprietary technologies that incorporate AI and GenAI will equip tax and accounting professionals with the efficiency, information, and insights needed to drive value for their clien
When a small company holds a life insurance policy, estate planning gets complicated — which is why assigning it to an individual or a family may be the better choice.
Investment platform Lightyear today releases new analysis – alongside a vox pop video – that shows that the majority of Brits will miss out on £2,000 of interest in the next five years by keeping their savings in low-interest accounts. Lightyear’s analysis of savings data published by the Bank of England on 30.04.24 shows that the average interest rate on an easy-access savings account is 2.12%, much lower than the current base rate of 5.25%.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Small construction businesses have several characteristics that distinguish them from larger firms. These characteristics include having a limited workforce, smaller revenue streams, and a more localized focus. They are often run by the owners themselves or a small team of employees. They tend to have a more personal approach to their work, as they are usually more involved in every aspect of the project.
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
Ryan, a Dallas-based international tax firm and software provider, has filed suit against the Federal Trade Commission over the rule issued last week outlawing non-compete employment agreements.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The majority of businesses require the use of cars and other types of vehicles to meet with clients, and suppliers, purchase goods, make service calls and of course check in with their accountants. The usage of a car for tax purposes is not necessarily straightforward as many employees and business owners use their vehicles for both business and personal reasons.
Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. Luckily there is fairly simple mechanism that allows you to change your tax return, which can either be done online or by filling out a form and mailing it in.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
By Keith Laing, Bloomberg News (TNS) The Biden administration gave carmakers a partial reprieve in finalizing electric vehicle tax credit rules intended to loosen China’s grip on battery materials crucial to the car industry’s future. Starting in 2025, plug-in cars containing critical minerals from businesses controlled by U.S. geopolitical foes, including China, will be ineligible for up to $7,500 tax credits, the Treasury Department said Friday.
Accountants are at a unique juncture where the convergence of a massive redistribution of wealth and rapid technological advancements can redefine their roles and impact.
The IRS said it’s gearing up to increase audit rates by more than 50% on wealthy taxpayers with more than $10 million in total positive income and nearly triple audit rates on corporations with assets over $250 million by 2026, Commissioner Danny Werfel said on Thursday, as the agency released an update to its strategic operating plan. However, the IRS chief once again emphasized to reporters yesterday that audit rates won’t increase for small businesses and taxpayers making under $400,000, sayi
The Biden administration gave carmakers a partial reprieve in finalizing electric-vehicle tax credit rules intended to loosen China's grip on battery materials crucial to the car industry's future.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
“Borgers and his sham audit mill have been shut down.” Fresh off the SEC press release press , the Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023.
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